PayU unveils initiatives to support businesses fight COVID-19

PayU, India’s payment gateway, has launched several innovative initiatives to help merchants, small and medium businesses and entrepreneurs manage the disruption caused by the COVID-19 crisis.

With the entire nation coming together to fight the battle against a deadly virus, PayU’s measures are aimed at enabling businesses to be more productive and collaborative in these challenging times.

Some of the key initiatives are mentioned below:

•At a time when SMBs are in critical need to be digitally ready, PayU is offering to build a free website for any merchant’s business with a built-in payment gateway & get 100% TDR waiver on the first INR 50,000 worth of business done via PayU. Whether a merchant is selling over the counter, delivering products or sending invoices to the customer, PayU will help them run businesses as smoothly as possible.

•Through Startups Helping Startups platform launched by PayU, emerging businesses can take help from each other in these challenging times. With as many as 32 partners such as Shopify, ZOHO, Shopmatic, Verloop, Atlassian etc., start-ups can avail offers ranging from setting up e-commerce stores at INR 50 per month to free web, app and Whatsapp Chatbots for customer support automation.

•To facilitate easy lending for businesses and help businesses get easy credit, PayU has partnered with Indifi to bring easy loans for our merchants who need credit to run their business smoothly. Merchants can avail loan amounts up to INR 50 lakhs with offers such as revolving line of credit with flexibility of drawdown as and when needed and pro-rata interest calculated on daily outstanding amount. Term loans with one-time lumpsum disbursement with a flexible tenure of 3 months to 24 months will also be available.

PayU, India’s leading online payment solutions provider, is regulated under the Reserve Bank of India and has advanced solutions to meet the digital payment needs of the Indian market.

PayU provides payment gateway solutions to online businesses through its cutting-edge and award-winning technology. In India, PayU serves more than 350,000 merchants with 70+ local payment methods and is the preferred payments partner for nearly 60% of the e-commerce merchants, including all leading e-commerce companies and a majority of airline businesses.

PayU also developed LazyPay in 2017, an alternate lending platform to offer credit solutions such as Small Ticket Credit (Buy Now Pay Later), App-based loans (Instant personal loans) and Point of Sale Credit (Merchant EMI). LazyPay Buy Now Pay Later is currently live on 100+ merchants such as Byju’s, Swiggy, Flipkart, Makemytrip, Dunzo, Vodafone, Zomato, Bookmyshow, Oyo, Tata Sky.

ChannelDrive Bureau covers the latest developments in the space of ICT, technology, solutions and implementations and delivers content focused around solution providers, system integrators, distributors and technology partner community in India.
ChannelDrive Bureau is headed by Zia Askari. He can be reached at ziaaskari@channeldrive.in

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